The present invention relates to automated devices for validating currency .
In many commercial transactions involving automated equipment, it is necessary to provide an apparatus for validating the authenticity of a currency note submitted by a patron. For example, in mass transit systems employing automatic fare collection equipment, it is necessary for the automatic ticket dispensing apparatus to validate paper currency inserted by patrons before dispensing tickets having fares encoded thereon.
The co-pending U.S. patent applications listed above disclose modules which may be interconnected in various ways to provide ticket dispensing equipment, entrance gates, and exit gates for a mass transit system. The currency note validator disclosed herein constitutes an additional module which may be utilized in conjunction with the foregoing modules. The apparatus described herein may also be utilized in conjunction with a wide variety of other automated systems which accept payment in the form of paper currency in return for goods or services.